16 Sep '14

News US sues for-profit Corinthian Colleges over 'predatory lending scheme'

Consumer protection agency sues college for more than $500m, saying Corinthian lured in consumers with lies about jobs The rise and fall of Corinthian CollegesCorinthian Colleges is being sued by the federal Consumer Financial Protection Bureau for what it calls a predatory lending scheme.The CFPB is seeking more than $500m for borrowers who used the for-profit education companys private student loans. Corinthian misled students about their job prospects, in some cases paying employers to offer temporary jobs to graduates, the agency said Tuesday. Continue reading...

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